Arab influx to Iraqi Kurdistan helps Revive Economy, but ...
By Amberin Zaman for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Arab influx to Iraqi Kurdistan helps revive economy but corrupts local culture, critics say Iraqi Kurds are alarmed by the influx of Arabs into their region, fearing they will […]
US Firm Wins $134m Logistics Contract in Iraq
By John Lee. Texas-based Bell Helicopter, a wholly-owned subsidiary of Textron Inc., has been awarded a $134,592,912 modification (PZ0010) to contract W58RGZ-22-C-0012 for logistics services. Work will be performed in Iraq, with an estimated completion date of Feb. 22, 2027. (Source: US Dept of Defense)
Fitch Affirms Iraq at 'B-'; Outlook Stable
By John Lee. Fitch Ratings has affirmed Iraq's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. More details here. (Source: Fitch Ratings)
iQ Cars Launches Commercial Vehicle Marketplace in Iraq
By John Lee. iQ Cars has launched a new machinery and commercial vehicle marketplace called iQ Fleet. According to a press release from the company, users can browse a wide selection of vehicles including trucks, buses, agricultural machinery and construction equipment from anywhere in Iraq. Amer Salih, CEO of iQ Cars, said: "Our mission is […]
KRG Building Ponds for Water Management
Building ponds: a strategic project, proper administration and quick implementation The Kurdistan Regional Government's (KRG) Ninth Cabinet has focused greatly on agriculture, the industrial sector, water, and has implemented dozens of projects in these fields over the past three years. The Ninth Cabinet has built ponds and dams. Ponds are important to conserve water and […]
CBI takes action to Stabilise Iraqi Dinar Exchange Rate
The Central Bank of Iraq (CBI) has announced a package of measures to help stabilise the dinar/dollar exchange rate. A translation of the statement from the CBI list the following: Allowing the banks participating in the foreign currency buying and selling window to buy any amounts in foreign currency and deposit them with this bank […]
Will Iraq Finally Start to use its Natural Gas Reserves?
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will Iraq Finally Start To Use Its Natural Gas Reserves? It has long been a point of extreme contention with the U.S. that Iraq continues to rely on neighbouring - […]
Partners voice Support for Iraq at Conference in Jordan
Joint communiqué/Baghdad Conference for Cooperation and Partnership 2022 In light of the decision taken at the conference held in Baghdad on 28 August 2021, and at the invitation of His Majesty King Abdullah II, in coordination with His Excellency President Emmanuel Macron of the French Republic and His Excellency Prime Minister Mohammed Shia al-Sudani of […]
Iraqi PM stresses need for Regional Reconciliation
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi PM stresses need for regional reconciliation at summit in Jordan Iraqi Prime Minister Mohammed Shia al-Sudani attended the second round of the Baghdad conference today in Jordan and expressed Iraq's […]
Iraq Anti-Corruption drive led to "Torture and Extortion"
By Louisa Loveluck and Mustafa Salim, for The Washington Post. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. A U.S. ally in Iraq vowed to tackle corruption. Torture and extortion followed. A flagship anti-corruption drive under the tenure of U.S.-backed Iraqi Prime Minister […]
Iraq to open First 7-Star Hotel
IRAQ IS ABOUT TO OPEN ITS FIRST 5-7 STARS HOTEL IN 40+ YEARS It can be said that one of the most important reasons for the reluctance of the process of economic and social development in Iraq over the past decades is the weakness or absence of investment in both the public and private sectors. […]
GKP Production towards Lower End of Guidance
By John Lee. Share in Gulf Keystone Petroleum (GKP) were trading down around 3 percent on Monday as the company said that production for 2022 would be towards the lower end of its guidance range. Jon Harris, Gulf Keystone's Chief Executive Officer, said: "Our leverage to strong oil prices, low-cost production base and focus on […]